{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{4}{c}}
\hline\hline
            &\multicolumn{1}{c}{SPPE}&\multicolumn{1}{c}{SPPE}&\multicolumn{1}{c}{Aquisition}&\multicolumn{1}{c}{Aquisition}\\
            &        b/se   &        b/se   &        b/se   &        b/se   \\
\hline
Cash Holding&      -0.195*  &      -0.202   &       0.411***&       0.200** \\
            &     (0.106)   &     (0.126)   &     (0.085)   &     (0.092)   \\
Sales       &      -0.025   &      -0.053   &      -0.003   &       0.327** \\
            &     (0.085)   &     (0.086)   &     (0.147)   &     (0.158)   \\
Log Asset   &      -0.517** &      -0.090   &       0.953***&      -0.055   \\
            &     (0.210)   &     (0.236)   &     (0.174)   &     (0.153)   \\
Leverage    &      -0.120   &      -0.217   &      -0.243** &      -0.090   \\
            &     (0.184)   &     (0.231)   &     (0.096)   &     (0.085)   \\
L.lratio\_l  &      -0.003   &       0.008   &       0.025   &      -0.009   \\
            &     (0.006)   &     (0.006)   &     (0.022)   &     (0.014)   \\
Capital Expenses&       1.045***&       0.820***&      -0.668***&      -0.126   \\
            &     (0.147)   &     (0.139)   &     (0.113)   &     (0.105)   \\
\hline
\(N\)       &        2286   &        2286   &        2044   &        2044   \\
\hline\hline
\multicolumn{5}{l}{\footnotesize Robust standard errors are in brackets and are clustered at firm level.}\\
\multicolumn{5}{l}{\footnotesize * p<0.10, ** p<0.05, *** p<0.01}\\
\end{tabular}
}
